Capabilities · 01
Venture lending
Growth companies rarely fail because of the product. They fail because the cash arrives a quarter after the obligation. Venture debt closes that gap without forcing a down round.
- Ticket size
- USD 2M – 40M
- Tenor
- 36 – 60 months
- Structure
- Senior secured term loan
- Security
- Revenue, IP & accounts
Built around revenue, not the cap table
Venture debt is not a bridge for companies that cannot raise. It is a deliberate instrument for companies that want to raise less often, and at a better price.
We size facilities against contracted revenue and the runway the plan actually needs. Interest-only periods run to twelve months, covenants are tested on revenue and liquidity rather than EBITDA, and warrant cover is negotiated once, at the start of the relationship.
Term sheet within ten business days
We read the plan, the cohort data and the cash schedule ourselves. No external credit desk, no two-month silence.
Four weeks of diligence
Commercial, legal and technical review, run by the same team that will manage the account afterwards.
Drawdown, then hold
Facilities are drawn in up to three tranches against milestones, so interest is only paid on capital the company has called.
What we look for
The screen, before the term sheet.
- Recurring or contracted revenue above USD 3M annualised
- An institutional round closed within the last eighteen months
- At least eighteen months of runway after the facility is drawn
- A board comfortable with quarterly covenant reporting
Related disciplines
One balance sheetEnquiries